Tuesday, 1 July 2014

Russian Ukraine grain exports unlikely to decrease

During the 2013-14 marketing year (1st July to 30th June) Ukraine exported 30.4mmt of grain compared to 22.0mmt last year.

That's an increase of 38% and included 9.1mmt of wheat, 2.6mmt of barley and 18.7mmt of corn.

By 25th June Russia had exported 25.2mmt of grains, an increase of 61.5% on the previous year.

That included 18.2mmt of wheat, 2.6mmt of barley and 4.5mmt of corn.

Assuming both these countries export policies is to keep exporting to generate dollars and keeping in mind they are unlikely to be doing much trade between each other and that so far this year’s harvest is looking OK, then expect more grain not less to come out of the Black Sea ports starting anytime soon.